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20121201
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in massachusetts, linda lackl, a twice-elected governor of hawaii, running for the senate, and other wilson in new mexico, who were good statewide candidates with good credentials who lost for one reason, they had (r) next to their name. this is an albatross. this is a problem for republicans to deal with, and the president knows he has an advantage and the republicans have to get beyond this is a day are going to become competitive. >> any wiggle room in the house, charles? >> i don't understand when colby says for the president raising rates is a matter of principle. there was no principle involved. obama himself said at a briefing in july 2011 press conference that you can raise the $1.20 trillion that he wanted at the time without raising rates, by doing it by eliminating deductions and exclusions, which is the more rational way. obama's, and debt reduction commission had recommended that you raise tens of revenue for the federal government, you do tax reform, and you actually lower rates while you expand the base, and the reason is that if you raise rates, you injure economic expansion, if yo
be reached this year. he cut short his vacation in hawaii to restart negotiations with republicans in congress. before christmas, the president called for bipartisan cooperation. >> now is not the time for more self-inflicted wounds, certainly not those coming from washington. >> analysts say failure to reach a deal with poison u.s. consumer spending. the fiscal cliff would trigger tax increases and government spending cuts in january, leaving far less money in the economy. the international monetary fund warrants of knock on effects for the global economy. -- warns of knock on effects for the global economy. the pressure is on in washington to agree on a plan. only then might the applause on wall street be a little more genuine. >> with the clock ticking ever more loudly in washington, let's bring in our correspondent. first off, are the prospects of an agreement as dim as we are hearing, or could there be a last-minute deal? then of course this could happen, but i think it is quite unlikely. there is an increased pessimism that a deal can be achieved in washington, d.c. from my p
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